Looking back, do you wish your child attended the least expensive college?

[Anonymous]

Anonymous wrote:
Excellent question.

I'll answer as the parent of a twice exceptional child (gifted with disabilities). DS will have lifelong issues, which might impact his professional and private life. With that in mind, we want to avoid closing doors for him, so we're ready to pay for an expensive, name-brand college, if it means that hiring managers will look at the diploma and be impressed. I am willing to pay for the brand, to compensate for whatever issues will come up in his working life.

My best friends have Ivy diplomas, and my husband has an MD/PhD. I've seen how their resumes automatically open doors for them that might not be as wide open had they gone to other schools, or had fewer terminal degrees. So... I can't actually solve my son's problems for him, but I try to work on the edges.

Same kind of kid but the opposite conclusion: I think we want to pay less for college in order to stockpile money for him in case he is unable to support himself fully (or for periods). I went to an Ivy and think the door opening factor is overestimated except in a handful of fields like finance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

I disagree. The most prestigious masters/doctorate/law etc. are going to look at where you got your undergrad education

^ if you do well at a highly regarded college you're more likely to get into a more prestigious masters/doctorate/law/ program than if you do well at alesser regarded school. This is just plain common sense. Go to the best undergrad school you can get into and afford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Excellent question.

I'll answer as the parent of a twice exceptional child (gifted with disabilities). DS will have lifelong issues, which might impact his professional and private life. With that in mind, we want to avoid closing doors for him, so we're ready to pay for an expensive, name-brand college, if it means that hiring managers will look at the diploma and be impressed. I am willing to pay for the brand, to compensate for whatever issues will come up in his working life.

My best friends have Ivy diplomas, and my husband has an MD/PhD. I've seen how their resumes automatically open doors for them that might not be as wide open had they gone to other schools, or had fewer terminal degrees. So... I can't actually solve my son's problems for him, but I try to work on the edges.

Same kind of kid but the opposite conclusion: I think we want to pay less for college in order to stockpile money for him in case he is unable to support himself fully (or for periods). I went to an Ivy and think the door opening factor is overestimated except in a handful of fields like finance.

PP you replied to. Interesting to get a different perspective. Thank you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I guess I disagree. An expensive but prestigious undergrad might cost more, but nobody can ever take degree away from you. You don’t know whether you’ll go to grad school or straight to work. I’d go for the best school you can get into.

I am a generally frugal person but I at least take this into consideration. If both options are affordable to me (i.e., I'm not taking on loans and it isn't compromising my ability to pay for college for my other kids or retirement security) and one has a stronger reputation, I'd rather encourage my kid to go to the school with the strongest reputation over chipping in the saved $ for a car or wedding. A degree--and the education you received-- lasts your whole life and no one can take it away. But if the school my kid preferred was just a lot more expensive but not any reputation/educational difference I would try to lure them with the freedom to use the saved money for other things or insist they make a better decision with my money.

This is exactly how I feel. I would rather pay for expensive college for my dc over wedding, car, down payment on a house...

[Anonymous]

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

Yes, how do podunk grads get into ivies/top schools?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

Yes, how do podunk grads get into ivies/top schools?

They have a close working relationship with a known professor at their college who writes a stellar recommendation to their colleague at the Ivy. If you are 1 of 500 in the major, you aren't getting this from a cut throat competitive school or a giant university.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

I disagree. The most prestigious masters/doctorate/law etc. are going to look at where you got your undergrad education

^ if you do well at a highly regarded college you're more likely to get into a more prestigious masters/doctorate/law/ program than if you do well at alesser regarded school. This is just plain common sense. Go to the best undergrad school you can get into and afford.

Wrong. And that is clear from admissions profiles.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

Yes, how do podunk grads get into ivies/top schools?

DP: By standing out and getting a lot of opportunities at that school. While by the numbers, top schools admit students from the top programs, they don't want to take all their students from the same 10 schools. So if a kid from a lower ranked SLAC, or flagship from a state that's less known shines--with great GPA, great test scores, and recommendations from professors that can say this student is among the top 1% I've ever worked with--they've got as good a chance as if they went to the better school. Given how competitive academia is, the professors at these schools--as long as it's a national liberal arts college or a major state u--still got their PhDs from top universities and are active in their fields so their word counts. Most faculty will assume that the kid went to the lower ranked school on a scholarship (and this is listed in their vita) or went to the in-state public for financial reasons and that adds to their appeal--or at least doesn't count against it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

Yes, how do podunk grads get into ivies/top schools?

DP: By standing out and getting a lot of opportunities at that school. While by the numbers, top schools admit students from the top programs, they don't want to take all their students from the same 10 schools. So if a kid from a lower ranked SLAC, or flagship from a state that's less known shines--with great GPA, great test scores, and recommendations from professors that can say this student is among the top 1% I've ever worked with--they've got as good a chance as if they went to the better school. Given how competitive academia is, the professors at these schools--as long as it's a national liberal arts college or a major state u--still got their PhDs from top universities and are active in their fields so their word counts. Most faculty will assume that the kid went to the lower ranked school on a scholarship (and this is listed in their vita) or went to the in-state public for financial reasons and that adds to their appeal--or at least doesn't count against it.

Come on. You know the bolded isn't always, or even mostly, true. But I agree that a "little pond, big fish" scenario can work in an applicant's favor.

[Anonymous]

Anonymous wrote:Least expensive was a state u with full aid for 4 yrs. Declined and chose and ivy.

We did opposite. Ivy isn’t worth paying a premium for when the state u is free. Where you attend undergraduate is inconsequential

[Anonymous]

Anonymous wrote:

Anonymous wrote:I guess I disagree. An expensive but prestigious undergrad might cost more, but nobody can ever take degree away from you. You don’t know whether you’ll go to grad school or straight to work. I’d go for the best school you can get into.

They can't take away from you your dignity, your self-respect, or your sense of morality. I wouldn't exactly put a diploma on that level.

Very much agree. Character is not comparable to a degree. It does not follow, however, that an undergraduate degree is worthless. I think that you can even build character at a prestigious college, by working, by taking on loans, and doing what it takes to attain a goal. If that’s your goal of course.

[Anonymous]

As the child of parents who told their kid to go to whatever college she wanted/best college regardless of cost who ended up footing the substantial bill in the end (my loans + my parents loans), tell your kid to pick something affordable. Did I enjoy my college experience? Yes. It was great going to a small prestigious LAC. Did I pay off all of the debt? Yes. But did it hamper me financially and career wise as a young adult? Yes. Absolutely.

My kids will be told a budget. They will be told the consequences of exceeding that budget and they will be strongly guided toward making a financially smart decision. If I had gotten such advice from my parents, I would have made a very different decision.

[Anonymous]

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

I got into Ivy grad from a CTCL (I hear the shuddering starting). Graduated Phi Beta Kappa, had great teacher recs, and had some impressive one of a kind work experiences in the international arena. GPA and test scores really matter - so do the best one can! - and the rest helps grease it.

[Anonymous]

Anonymous wrote:^ I also have a neurotypical child who is a scrappy go-getter: she could go to any college and do well in life! However, since I'm offering any college he wants to my oldest, I feel I have to offer the same to my youngest.

I have the exact same dilemma. I would gladly pay $$$ for my youngest and even take out loans for her, because I know she'll make use of every single moment and opportunity and relationship at the school, and will also find a way to do all these things while minimizing additional expenses and working part-time. But my older kid has never taken advantage of any free activity or put any effort into anything aside from pay-to-play sports, and he has never earned a penny. But I too feel I have to offer them both the same budget. It's really not fair.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College professor here. Your undergrad degree in 90 percent of careers means nothing. Save your money now and get the most prestigious masters/doctorate/law/nursing/business degree you can get into.

Understood, but do kids from better-ranked schools do better in the graduate school admission process? What do graduate schools look for in applicants?

Yes, how do podunk grads get into ivies/top schools?

DP: By standing out and getting a lot of opportunities at that school. While by the numbers, top schools admit students from the top programs, they don't want to take all their students from the same 10 schools. So if a kid from a lower ranked SLAC, or flagship from a state that's less known shines--with great GPA, great test scores, and recommendations from professors that can say this student is among the top 1% I've ever worked with--they've got as good a chance as if they went to the better school. Given how competitive academia is, the professors at these schools--as long as it's a national liberal arts college or a major state u--still got their PhDs from top universities and are active in their fields so their word counts. Most faculty will assume that the kid went to the lower ranked school on a scholarship (and this is listed in their vita) or went to the in-state public for financial reasons and that adds to their appeal--or at least doesn't count against it.

Come on. You know the bolded isn't always, or even mostly, true. But I agree that a "little pond, big fish" scenario can work in an applicant's favor.

unless the faculty are snobs (which isn't out of the question), then many are aware of super smart kids from state unis who attended the school which was the best fit for their family budget.